How the Chinese stay put in Italy

My friend emailed the following to me yesterday.

About a century or two ago, the Pope decided that all the Chinese had to leave Italy. Naturally there was a big uproar from the Chinese community. So the Pope made a deal. He would have a religious debate with a member of the Chinese community. If the Chinese win, they could stay.

The Chinese had no choice, so they picked a middle-aged man named Ah Pek to represent them. Ah Pek asked for one condition, “To make it more interesting neither side would be allowed to talk”. The Pope agreed.

On the day of the great debate, Ah Pek and the Pope sat opposite each other for a full minute. Then the Pope raised his hand and showed three fingers. Ah Pek looked back at him and raised one finger. The Pope waved his fingers in a circle around his head. Ah Pek pointed to the ground at where he sat. The Pope pulled out a loaf and a glass of wine. Ah Pek pull out an apple. The Pope stood up and said, “This man is too good, the Chinese can stay”.

The cardinals were all around the Pope asking him what happened?.


The Pope said, First I held up three fingers to represent the holy trinity. He responded by holding up one finger to remind me that there was still one God common to both our religions.
Then I waved my finger around me to show him that God was all around us. He responded by pointing to the ground and showing that God was also right here with us.
I pulled out the wine and loaf to show that God absolves all sin. He showed me an apple to remind us of the original sin. He had an answer for everything. What could I do???????


Meanwhile, the Chinese community had crowded around Ah Pek. “What happened?” they asked.


Well, said Ah Pek. First he indicated to me that all Chinese had 3 days to get out of here. I replied to him f*@k off and not one of us was leaving.Then he pointed that this whole city would be cleared of Chinese. I showed him that we are staying right here.

Yes, and then???' asked the crowd.


I don't know, said Ah Pek. He took out his lunch, and I took out mine!!!!!!!

Dow - Has wave iii ended ?

Dow closed the week at 11,192, a drop of 2.2% from its peak of 11,444 on November 5. Mini wave 8 has reach its extreme value, it can not afford to drop any further, it has to move upward from here to complete its mini wave 9. However if Dow continues to drop lower next week, then the above wave count can no longer hold. The next likely wave count is as shown below.


Dow has the possibility that wave iii has ended. Under this scenario, Dow will continue to move lower to complete its wave iv. I have been talking about a 7% correction for wave iv, assuming that it has the same magnitude as its wave ii correction.



However under the Elliott Wave Principles, 'Rule of Alternation', wave ii and wave iv are likely to alternate in both 'form' and 'depth' as shown below.



Since wave ii is a simple zig-zag, it is possible that wave iv can be a triangle as shown below. Under such condition, wave iv may not go below 11,000.



Hopefully I can get a clearer picture by early next week.

Taylor Swift - Big Winner at 58th BMI Country Music Awards

Taylor Swift, at 20, became the youngest person to win the BMI Country Songwriter of the Year Award at the 58th BMI Country Music Awards held on 9th November, thank to her compositions 'Fifteen', 'White Horse' and 'You Belong with Me'.

Swift also won her third consecutive BMI Country Song of the Year award with “You Belong With Me”



I started to pay attention to this talented young singer/songwriter when my son and daughters started to buy her CD. To me, her songs are not bad but may be they are too young for me, I still prefer the old country songs such as

Dow - Is that the end of mini wave 8

Dow closed at 11283, down 74 points (0.65%) on Thursday. Is mini wave 8 about to end? If this is the case, Friday session may witness a 'Doji', a 'Hammer' or a 'Bullish Engulfing' candlestick. After the mini wave 9 watch out for the 7% wave iv correction unless there is further extension of wave iii to 13 waves. Well, anything is possible in the short term, that is why market can continue to exist.

Advice from Dr. Ephrem Cheng
"Don't work too old if it becomes stressful"

Refer to the above table, if you retired at 50, you can live until 86. If you continue to work until 65, you may have to report to the one up there at 67. If this is true, Malaysian that generally retired at 55 or 58 will live longer than Singaporean that retired at 65. Recently, Singapore Minister Lim Boon Heng has suggested to raise the retirement age from 65 to 68. Base on the table of Dr. Ephrem Cheng ........... ??????? Hey, where is 68? Just use your logic to guess what will happen.

To read more please click Dr. Ephrem Cheng

In March 2009 Bernanke embarked on the first US$ 1.75 trillion quantitative easing (QE) programme. After 20 months, he announced his second QE measure of US$ 600 billion last Wednesday, 3 November. The Federal Reserve needs to print more money for reasons they knew. There must be something really wrong to warrant this action that will inflate their balance sheet by another 30%. I would have been more optimistic if Bernanke has announced that further QE was not necessary. This US$ 600 billion proposal has further strengthen my hypothesis that the current up-trend is a bear market rebound, a mega wave b rebound.


As shown by the above chart, Dow is at the tail-end of mega wave b. Wave iii is about to finish.


I am expecting a wave iv correction of approximately 7%. The last journey, wave v, is likely to end in early part of 2011. Currently Dow is forming its mini wave 8, which may be completed within this week.

Dutaland

Very Impressive OBV that has been setting new highs. Price breakout should follow. Price usually follows volume.



If its price can close above 60 sens, that will signal the starting of the wave 3 of major wave (III).

Landmark

If the price can break the upper resistance line, it is wave 3 of (III). Failure which , it is forming a side way A-B-C-D-E waves.



Don't Worry be Happy.

Words from Sifu

Courtesy of www.humortadela.com.br

Dow - No change to my wave count

Courtesy of Alain Delorme

I am still talking about a bear market rebound that has started in March 2009 when Dow bottomed at 6,547.

The rebound may end by early 2011 when mega wave B is expected to end. Currently Dow is trying to complete its wave iii. Last Thursday surge is the sub-wave 7 of wave iii. The magnitude of wave iv correction is expected to be about 7%.


If major wave (3) has only 5 waves, wave v will be the last wave before mega wave C starts. Of course it is always possible that major wave (3) can have 9 waves but until it happened it is suicidal to assume that it will have 9 waves.